The global biobanks market is expected to reach USD 83.82 billion by 2028, according to a new report by Reports and Data. Rising demand for stem cell preservation of newborns is instrumental in fuelling the growth of the market. Stem cells have the capability of discerning and regenerating various kinds of cells in the human body. These cells possess the potential to cure life-threatening diseases such as oncological and blood-related disorders. Cord blood stem cells find application in the treatment of more than 80 blood-related ailments, such as Sickle Cell Disease. It is projected that over 27 million babies across the globe are born with some kind of blood disorder. As per the World Health Organization, in 2008, 100,000 children were found to e suffering from thalassemia in India. Constant researches are being carried out all over the world to study the usage of umbilical cord blood and tissue stem cell for the treatment of fatal diseases.

 Biobanks Market Overview:

The pharma and healthcare industry has undergone a revolutionary change owing to the COVID-19 pandemic with individuals increasing their focus on health and wellness. Companies operating in the industry have invested heavily in clinical trials and research studies to develop medications to cater to the growing unmet clinical demand on a global level. Implementation of cutting-edge technology in healthcare sector and increasing investment in research and development have contributed significantly to revenue growth of the market in the recent past. In addition, availability of favorable health insurance and reimbursement policies have also positively impacted the healthcare sector with more and more individuals opting to get treatment at hospital and clinical facilities. Rapid development of novel drugs and pharmaceuticals, increasing incidence of lifestyle and chronic diseases, establishment of state-of-the-art healthcare facilities, and rising availability of over-the-counter medications have significantly contributed to the revenue growth of the market.  

Further key findings from the report suggest:

• By type, population-based biobanks are likely to grow at a rate of 3.7% in the forecast period. Population biobanks emphasize identifying the nation or geographic region of origin of healthy donors from DNA analysis and identify specific ethnic cohorts for enrollment for the purpose of the study. The significance of population-based biobanks is that they combine genomics with public health research by enabling population-selective cohort studies.
• By storage type, the automated storage type is likely to grow at a faster rate of 5.1% in the forecast period. Automated storage provides the likelihood of defragmentation and, therefore, efficient deployment and optimization of storage space. This is of utmost importance owing to the presence of several dynamic processes in biobanks. At present, automated storage types provide various combinations of temperature handling and storage.
• By product type, equipment contributed to the largest market share in 2019. The high demand for equipment is owing to the growing demand for storing of biosamples in biobanks.
• By specimen type, human tissues accounted for a significant market share in 2019 and are likely to grow at a rate of 4.5% in the forecast period. Human tissue is vital for advancement in knowledge of disease mechanisms and pathways. Research deploying human tissue can progress a fundamental understanding of human biology, aid develops disease diagnosis methods, treatment protocols, and future therapies.
• By application, therapeutics held the second-largest market share in 2019 and is likely to grow at a rate of 4.4% in the forecast period. Biobanks support health care enabling novel therapeutic strategies. Disease-oriented biobanks were formed to encourage the study of human ailment pathogenesis to recognize likely therapeutic strategy.
• The market in the Asia Pacific region is likely to grow at the fastest rate of 5.3% in the forecast period, owing to the growing healthcare investments in nations including China and South Korea, among other factors.

 Top Companies Profiled in the Report Include:

Becton, Dickinson, and Company, Merck KGaA, Thermo Fisher Scientific Inc., Tecan Trading AG, Panasonic Healthcare Holdings Co. Ltd., Hamilton Company, VWR Corporation, Brooks Automation Inc., Promega Corporation, and Chart Industries Inc., among others.

Additionally, the report consists a detailed analysis of the segmentation of the PTA Balloon Cathetery tests Market based on product types and end-use/application offered in the PTA Balloon Cathetery tests Market –

Type Outlook (Revenue, USD Million; 2018-2028)

• Disease-Oriented Biobanks
• Population-Based Biobanks

Storage Type Outlook (Revenue, USD Million; 2018-2028)

• Manual Storage
• Automated Storage

Product Outlook (Revenue, USD Million; 2018-2028)

• Equipment
• Consumables
• Software
• Services

Specimen Type Outlook (Revenue, USD Million; 2018-2028)

• Human Organs
• Human Tissues
• Stem Cells
• Others

Application Outlook (Revenue, USD Million; 2018-2028)

• Drug Discovery Clinical Research
• Therapeutics
• Clinical Diagnostics
• Others

Key Regional Markets Studied in the Report:

• North America (U.S., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• The Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

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